LAV, Arch lead $100m round for China's SciNeuro

The Series A was co-led by Lilly Asia Ventures (LAV) and Arch Venture Partners. Other investors include Boyu Capital, General Atlantic, Sequoia Capital China, TF Capital, and Zoo Capital.

The seed capital will go towards building a CNS product portfolio with an initial focus on Greater China. Treatments will be developed through internal R&D efforts and in-licensing intellectual property from overseas.

"One in every six people in China is living with a CNS condition, yet there are relatively few effective treatments available today, underscoring the urgent need to develop and deliver novel, effective therapies," said Min Li, founder and CEO of SciNeuro, in a statement.

Li previously served as a senior vice president and global head of neuroscience R&D at GlaxoSmithKline. He is joined by Qiuqing Ang, formerly chief scientific officer at Klus Pharma, and now chief medical officer at SciNeuro.

Until recently, Li was a venture partner at LAV. The healthcare GP selectively recruits healthcare professionals who are aspiring entrepreneurs and helps them develop ideas. Hangzhou Just Biotherapeutics, which merged with MabSpace Bioscience and then raised a $100 million round in January, is another example. Just's founder launched the business while a venture partner at LAV.

Other Chinese start-ups focusing on CNS conditions include XWPharma, which received $40 million in Series C funding - led by Panacea Venture - earlier this year.

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• Topics
• Greater China
• Early-stage
• Healthcare
• China
• Sequoia Capital
• Boyu Capital
• Pharmaceuticals
• Arch Capital
• Lilly Asia Ventures